Revolution Medicines (NASDAQ:RVMD) Insider Mark Goldsmith Sells 20,000 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark Goldsmith sold 20,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.07, for a total transaction of $1,301,400.00. Following the sale, the insider directly owned 247,863 shares of the company’s stock, valued at $16,128,445.41. The trade was a 7.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Revolution Medicines Trading Up 5.2%

Revolution Medicines stock traded up $3.37 during trading hours on Friday, reaching $67.75. The stock had a trading volume of 3,957,968 shares, compared to its average volume of 2,469,948. The company has a fifty day simple moving average of $51.19 and a 200-day simple moving average of $42.89. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $69.02. The stock has a market cap of $13.10 billion, a PE ratio of -13.10 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same period in the prior year, the firm posted ($0.94) EPS. Analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RVMD. HC Wainwright lifted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a report on Wednesday, October 8th. Needham & Company LLC upped their price objective on shares of Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Truist Financial assumed coverage on shares of Revolution Medicines in a research report on Friday, September 5th. They issued a “buy” rating and a $99.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $78.71.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of Revolution Medicines by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company’s stock valued at $416,821,000 after purchasing an additional 966,230 shares during the period. Nextech Invest Ltd. grew its position in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the period. Bellevue Group AG increased its holdings in Revolution Medicines by 21.7% during the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after buying an additional 994,538 shares during the last quarter. BVF Inc. IL increased its holdings in Revolution Medicines by 19.2% during the first quarter. BVF Inc. IL now owns 4,982,384 shares of the company’s stock valued at $176,177,000 after buying an additional 801,205 shares during the last quarter. Finally, Deerfield Management Company L.P. raised its position in Revolution Medicines by 7.9% in the third quarter. Deerfield Management Company L.P. now owns 3,650,342 shares of the company’s stock worth $170,471,000 after acquiring an additional 266,270 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.